Capital One Pre-Approval - Do they still have Credit Steps?

[Anonymous]

My first Credit Card was Capital one.  It was low limit and I built it up over time.  Of course I got in credit trouble and they closed that account, even though they were always paid on time and the account was paid in full.

I worked on my credit paid things off, settled some accounts and was able to do more in 2009.  I had applied for a card in hopes that I would be able to reestablish my credit and low and behold was approved for $500.  I then received the credit steps info and my limit rose to $1500.  Even on my reports it shows as this is a new card but it has a lot of my old information in it that says I have been a card holder for over 10 years etc. 

Then I get an email saying that I have been a good standing cardholder since 2009 and have been pre-approved for a platinum card.  (basically the same card I already had in 2009).  Not wanting to waste an offer and since I hadnt applied for or opened any new cards in 2009 I figured what the heck.  My scores are still a little lower as I wait for things to drop off and get cleaned up.  Then I was approved for $500 credit limit.  It's a higher APR but I figured that I might as well use the money to help and have to the side incase I have any emergencies. 

Does anyone know if they are still doing credit steps?  I would love to get this CL up to the $1500 mark again!

[tinuviel]

Yes, Cap1 still has credit steps. I have a card that's in the program and I'm expecting a CLI in a few days when my next statement cuts. I would suggest that you call them and verify that your card is in credit steps. Congratulations, and best wishes to you as you rebuild your credit!

[JayRizzo]

tinuviel, that was good info you provided to the OP.  You also mentioned that you're expecting a CLI in a few days after your next statement cuts, but is this another step or the first for that particular card?  Keep us posted.  Thanks!

[Anonymous]

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@tinuviel wrote:

Yes, Cap1 still has credit steps. I have a card that's in the program and I'm expecting a CLI in a few days when my next statement cuts. I would suggest that you call them and verify that your card is in credit steps. Congratulations, and best wishes to you as you rebuild your credit!

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When I was in the same situation, I called them to ask the same and they said that due to my excessive usage I wont be getting any CLI and that Credit Steps didnt mean anything anymore........two days later I was CLI'd to $500. Their CSRs are sippin' on something real hard 24/7.

[tinuviel]

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@JayRizzo wrote:

tinuviel, that was good info you provided to the OP.  You also mentioned that you're expecting a CLI in a few days after your next statement cuts, but is this another step or the first for that particular card?  Keep us posted.  Thanks!

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This is my first step... and they're giving it to me a month earlier than originally scheduled! I'm getting it on my sixth statement instead of my seventh. I called a couple of weeks ago and asked if they'd give it to me earlier. The reason? I push $1,000+ a month through a card with a $500 limit. I pay multiple times a month, at LEAST once a week, and frequently two or three times a week. I told the CSR that I'm using this as my main card in order to earn the rewards. I'd like to put even MORE through it, but the limit is making it cumbesome. They reviewed my account, kicked it upstairs, and approved an early CLI. I'll keep you posted to confirm that it comes through.

[tinuviel]

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@Anonymous wrote:

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@tinuviel wrote:

Yes, Cap1 still has credit steps. I have a card that's in the program and I'm expecting a CLI in a few days when my next statement cuts. I would suggest that you call them and verify that your card is in credit steps. Congratulations, and best wishes to you as you rebuild your credit!

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When I was in the same situation, I called them to ask the same and they said that due to my excessive usage I wont be getting any CLI and that Credit Steps didnt mean anything anymore........two days later I was CLI'd to $500. Their CSRs are sippin' on something real hard 24/7.

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Weird... they seemed to LOVE my excessive usage! It's a good thing for them, as they make fees off of each transaction. Congrats on the CLI, though!

[vish1]

I was on credit steps on my cap 1 (500$ original CL) and I got to 750 in 4 months and then to 2250 in another 4 months (this was not steps though, it was outa blues)

On my other cap 1 card (opened june 2010) I went to 750 in 3 months and then nothing and then I closed it this January.